Categories: Bitcoin Latest News

BlackRock’s Bitcoin ETF Saw Highest Inflow in Over a Month

On Monday, BlackRock’s spot Bitcoin exchange-traded fund (ETF) saw its largest single-day inflow in over 35 days. The iShares Bitcoin Trust (IBIT) took in $224 million in net inflows.

NEW: 🇺🇸 While others are selling, BlackRock’s #Bitcoin ETF saw $224 in inflows yesterday.

Highest in over a month 🚀 pic.twitter.com/sCiSGhKzCp

— Bitcoin Magazine (@BitcoinMagazine) August 27, 2024

The sizable capital injection came as Bitcoin pulled back slightly from its recent rally. It highlights the continued strong demand for IBIT amid mixed flows for other spot Bitcoin ETFs. IBIT accounted for the bulk of Monday’s $202 million total inflows into U.S. spot Bitcoin ETFs, which was IBIT’s highest inflow since July 22nd.

Other spot Bitcoin ETFs saw divergent results. Franklin Templeton’s and WisdomTree’s Bitcoin ETFs added about $5 million each. However, Fidelity’s Bitcoin ETF saw $8 million in outflows, while Bitwise and VanEck posted outflows over $15 million.

The varied performance reflects diverse investor outlooks and strategies in the nascent Bitcoin ETF space. Nonetheless, inflows into IBIT and select other funds stretched the overall inflow streak to eight consecutive days.

With over $20 billion in net inflows, IBIT has cemented itself as the dominant spot Bitcoin ETF. BlackRock now holds over 350,000 bitcoins worth nearly $22 billion in the fund.

The asset manager recently added IBIT shares to its Strategic Global Bond Fund, underscoring its confidence. As mainstream adoption increases, BlackRock’s Bitcoin ETF is positioned to see steady inflows.

Read More[#item_full_content]Bitcoin Magazine – Bitcoin News, Articles and Expert Insights

AddThis Website Tools

Recent Posts

Bitcoin Trades Above $117K as Whale Deposits Decline and Stablecoin Inflows Rise

Bitcoin continues to maintain upward momentum despite a recent pullback from its all-time high. Currently…

28 minutes ago

Whales? No, Newbies: Surge In New BTC Holders Fuels Market Rally—Study

Bitcoin has been on a tear lately. Prices jumped past $123,000 this week. Now, new…

1 hour ago

Bitcoin Price Eyes $123K Explosion—Traders Brace for Breakout

Bitcoin price is attempting a fresh increase above $120,000. BTC is now consolidating and might…

2 hours ago

Bitcoin Mining in Space

Bitcoin Magazine Bitcoin Mining in Space The building blocks that will serve as the foundation…

7 hours ago

White House Confirms President Trump’s Support For Bitcoin Tax Exemption

Bitcoin Magazine White House Confirms President Trump’s Support For Bitcoin Tax Exemption The Trump administration…

7 hours ago

Finland Joins the Bitcoin Conference Map with BTCHel

Bitcoin Magazine Finland Joins the Bitcoin Conference Map with BTCHel Bitcoin conferences are a dime…

7 hours ago